Best Gold ETF’s for exposure to gold stocks
The VanEck Gold Miners ETF (ASX: GDX)
is a highly liquid Exchange Traded Fund which offers investors exposure to leading global gold mining companies. Its objective is to mirror the price and yield performance of the NYSE Arca Gold Miners Index before fees and expenses. GDX manages approximately $16.7 billion as of August 2025 in total net assets and carries an expense ratio of 0.51% positioning it as a cost-effective choice for those seeking leveraged exposure to gold price movements.
GDX reports a strong historical performance with a year to date return exceeding 70% in 2025. Investing in GDX can carry risks typical of the gold mining sector such as sensitivity to gold price fluctuations and operational risks of mining companies. Its high trading volume ensures excellent liquidity, helping investors enter and exit positions with ease.
The BetaShares Gold Bullion ETF (ASX: QAU)
provides investors exposure to the price performance of physical gold bullion which is hedged against currency movements between AUD and USD. It is backed by physical gold bars held in a London vault by JPMorgan Chase. The fund charges a management fee of 0.49% per annum plus around 0.10% in recoverable expenses, totaling an expense ratio of about 0.59%. QAU generally exhibits competitive liquidity with average bid-ask spreads around 0.14% and is supported by market makers and authorized participants to keep trading efficient and aligned with its net asset value.
QAU has a solid track record since its launch in 2011, delivering returns that reflect gold prices with the added benefit of currency hedging to reduce AUD/USD exchange rate fluctuations. Investors should be aware of inherent risks including market risk, gold price volatility and currency hedging risk. QAU is suitable for those seeking convenient, relatively low-cost gold exposure with reduced currency uncertainty.
The iShares Physical Gold ETF (ASX: GLDN)
aims to provide investors with exposure to the spot price of gold before fees and expenses and is backed by physical gold bullion complying with the London Bullion Market Association (LBMA) Good Delivery rules. The fund charges a low management fee of 0.18% per annum making it one of the cost-effective options for direct gold exposure on the ASX. GLDN has a fund size of around $271 million and benefits from good liquidity supported by multiple market makers ensuring tight bid-ask spreads and ease of trading.
GLDN has delivered a year to date return of approximately 22.6% and a 1 year return near 38%. The fund carries risks including market risk associated with gold price volatility and operational risks linked to physical gold custody. Additional risks include potential lower liquidity compared to larger ETFs and risks linked to derivative use for cash equitisation. Overall, GLDN suits investors looking for straightforward, cost-efficient gold price exposure on the ASX with relatively lower fees and risk transparency.
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